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Preparing for retirement: Financial help by TYLER JEFFS

Whether your plan is to retire in 30 years or 10 years, it is important to have goals in place to make your retirement funds work for you. Did you know only 65 percent of Americans feel confident they have enough money to live comfortably in retirement? Here are a few tips that may help.

Determine your retirement goals. Determine what your priorities are and then make a plan to achieve them. Where do you want to be financially? Will you still need to budget for a house or car payment? Do you plan on traveling? Will I need to work part-time? Answering questions like these will help you determine how much you will need to retire.

Research your current Investments. What are you currently investing in your retirement? Do you have a 401(k), 403(b), or other company sponsored program, Are you self employed and need to start your own retirement plan? As a general rule, experts say you will need 75 percent of your current income to provide for a similar lifestyle during retirement living.

Supplement Your Company sponsored plan. Diversification and risk play important roles in a successful investment strategy. It is wise to consider programs outside your company sponsored plan including traditional IRA's, Roth IRA's, tax deferred annuities and mutual funds.

Seek Professional counsel. It may be wise to consult with a team of professionals about your retirement plans. Your team should consist of a reputable tax advisor, a local investment advisor, and an attorney. Investing is very complex in nature and should be approached with care and planning. Investing early and sensibly is the key to helping your retirement work for you. Start reviewing your plan today to help ensure your retirement dreams are fulfilled.

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